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So, the problem with "living nowhere" is when you have kids and the school asks you something about your country and the kid doesn't know which country. My kids are like that, they feel "European" although they lived in the US also. But there was a case when one of my kids had to write an essay: "Describe your schools in your country" and he didn't know "which country". :)
As a hobo your message really hits home. At least I assume it would if I had one. I feel like I got the nomad part down solid, it's just the capitalist part that needs some work. Thanks for posting!
Every time i watch one of Andrews video I am amazed at the value being given so freely, a simple throw away comment by Andrew opens up an entirely new way of thinking about what I'm doing for me, amazing info thanks for sharing this.
Hi, an Argentinian digital nomad here, jumping from country to country every a couple of months, doing this for the last year. So in my case, I have to spend at least 365 days out of my country to lose residency but then I can't spend more than 3 months there. The most difficult part is getting paid by my clients, they want an invoice with a tax number, of course they have their rigths, but i cant offer that for now, so I'm jumping from cheap job to small project, getting paid in crypto, or a western union, and those are not so well paid jobs. But after watching a lot of your videos I think you helped me solve the puzzle, I will go to Paraguay and try to get the residency, should not be so difficult I speak Spanish and will not get scared by how the country is. Then I need to decide where I'll open an LLC or similar, in the USA, Malta, or whatever, that will depend on my potential clients. The bank account is already set-up in a good country for banking. I want to thank you, Andrew, for all your videos, any of this wouldn't be possible without your research and expertise.
@@patriotpioneer if your statement was true there would be no new businesses growing and old businesses dying, a status quo would exist instead. Clearly that's not the case so it's safe to assume they are competing and doing well. Be careful what you believe as it will sway your decision making process, question your assumptions and old beliefs about what "the little guy" can do!
I regret not keeping up to date my bank account in south korea 20 years ago. Sounds like these days that opening bank accounts are just more difficult everywhere.
Just need a type of residency in a country that doesnt tax foreign income. Eg. Malaysia. Perhaps correct me if im wrong Andrew but that business visa in cambodia you mentioned re newable for $300 pa may be an option. Small appartment with bank acc etc then keep bouncing around. Onus is on the questioner to prove different...
The best response to FATCA and CRS is cryptocurrency. It is rapidly becoming possible to entirely avoid the traditional banking system and reclaim the right to financial privacy. Stablecoins allow one to hold a stable store of value that can be stored and traded anonymously. International transfers are fast and inexpensive.
@John Tarrant I am sure the dominant cryptocurrency will be centralized and traced. However, there will always be a niche ecosystem of decentralized, private cryptocurrencies. People have always been able to circumvent the dominant power structure, and will always be able to do so - thankfully, the individual is much more agile than large governments.
Do you think theres any way for a high earner in the US (like say a doctor) to live a hybrid nomad lifestyle If there job cant be transported offshore?
With U.S. congresswoman AOC gaining prominence with her 70% tax pitch I feel like the U.S. Is steadily heading towards socialism. There seems to be a very strong anti-capitalist sentiment among millennials. Point being, Andrews message & the services he provides will only increase in relevancy & value going forward.
USA already has a large and corrupt system. It’s weird how people point at the US as some bastion of how bad capitalism is when it’s far from capitalist…
Not strictly true. It is 183 days but below that there are a number of other criteria. One of the other tests is "were you resident for more than 90 days in any of the three preceding tax years?" if yes the days limit is lower. There is a sliding scale of days allowed depending on how many of the statutory criteria criteria you meet but under 16 days you are automatically non resident regardless. The UK does at least now have a Statutory Residence Test (SRT) which is clear and objective. Google, UK SRT to find a better explanation.
Roubini, a modern financial Nostradamus, predicts a new financial crisis next year. This is the guy whose predictions from the past were accurate, including the big crisis of 2008/2009. According to predictions, stocks will again be decimated but this time they will remain at around 50% of the current levels for decades i.e. no recovery will be possible for quite a while. After more than 10 years of stagnancy, Canadian mining stocks started to shoot up. If these predictions are true, what is the best strategy for the nomad capitalist right now?
tax system is doomed, soon we all are gonna abandon cash and bank accounts for the 3 ultimate types of currency: RUclips likes, subscriptions and comments
If you enjoyed watching this video, give it a thumbs up and click on the subscribe button.
Comment below and tell us your opinion with any questions or suggestions you might have.
So, the problem with "living nowhere" is when you have kids and the school asks you something about your country and the kid doesn't know which country. My kids are like that, they feel "European" although they lived in the US also. But there was a case when one of my kids had to write an essay: "Describe your schools in your country" and he didn't know "which country". :)
As a hobo your message really hits home. At least I assume it would if I had one. I feel like I got the nomad part down solid, it's just the capitalist part that needs some work. Thanks for posting!
Mass surveillance
Every time i watch one of Andrews video I am amazed at the value being given so freely, a simple throw away comment by Andrew opens up an entirely new way of thinking about what I'm doing for me, amazing info thanks for sharing this.
Thank you Neil, glad you like it! :)
Hi, an Argentinian digital nomad here, jumping from country to country every a couple of months, doing this for the last year.
So in my case, I have to spend at least 365 days out of my country to lose residency but then I can't spend more than 3 months there.
The most difficult part is getting paid by my clients, they want an invoice with a tax number, of course they have their rigths, but i cant offer that for now, so I'm jumping from cheap job to small project, getting paid in crypto, or a western union, and those are not so well paid jobs.
But after watching a lot of your videos I think you helped me solve the puzzle, I will go to Paraguay and try to get the residency, should not be so difficult I speak Spanish and will not get scared by how the country is.
Then I need to decide where I'll open an LLC or similar, in the USA, Malta, or whatever, that will depend on my potential clients.
The bank account is already set-up in a good country for banking.
I want to thank you, Andrew, for all your videos, any of this wouldn't be possible without your research and expertise.
They will take the little guy. But the big corporations wont be taxed.
Big corporations get taxed too, they just know how to minimize their exposure, something "the little guy" can now do thanks to videos like this
@@patriotpioneer if your statement was true there would be no new businesses growing and old businesses dying, a status quo would exist instead. Clearly that's not the case so it's safe to assume they are competing and doing well. Be careful what you believe as it will sway your decision making process, question your assumptions and old beliefs about what "the little guy" can do!
They want your taxes and their money back. They will watch you very closely.
Was it "their" money to begin with?
Thanks from Brazil Andrew.
I agree with you Mr. Andrew Henderson that they should cut down from or lower the tax rate for anyone no matter where they live anywhere in the world.
Thanks for the vid. This is a *great* channel! Detailed assessments and deep knowledge.😎👍
Another great video.
Well done.
Would love to see a video about doing business in a country without Goods and Services Tax ( GST )
This was a very interesting. Thanks again.
Buy a yatch. Become a seafarer. Fast, cheap satellite internet from next year. Job done.
Agreed. Maritime law is the best law.
except that doesnt work unless you only engage in barter economics
I regret not keeping up to date my bank account in south korea 20 years ago. Sounds like these days that opening bank accounts are just more difficult everywhere.
Great video thank you.
Just need a type of residency in a country that doesnt tax foreign income.
Eg. Malaysia. Perhaps correct me if im wrong Andrew but that business visa in cambodia you mentioned re newable for $300 pa may be an option. Small appartment with bank acc etc then keep bouncing around. Onus is on the questioner to prove different...
Andrew, can you do a video on what passports you have personally and why? Would love to see that.
This
The best response to FATCA and CRS is cryptocurrency. It is rapidly becoming possible to entirely avoid the traditional banking system and reclaim the right to financial privacy. Stablecoins allow one to hold a stable store of value that can be stored and traded anonymously. International transfers are fast and inexpensive.
@John Tarrant I am sure the dominant cryptocurrency will be centralized and traced. However, there will always be a niche ecosystem of decentralized, private cryptocurrencies. People have always been able to circumvent the dominant power structure, and will always be able to do so - thankfully, the individual is much more agile than large governments.
Doesn't crypto currency fluctuate in value e.g. ether, bitcoin etc?
Sounds like the welcoming of the mark of the beast.
What if you live on a boat?
atro Watch this: ruclips.net/video/JlhBjOFZ0mk/видео.html
Grab Your Money and Run describes this use case
Do you think theres any way for a high earner in the US (like say a doctor) to live a hybrid nomad lifestyle If there job cant be transported offshore?
gio mictil Sure. Taxes will need to be planned for, though.
With U.S. congresswoman AOC gaining prominence with her 70% tax pitch I feel like the U.S. Is steadily heading towards socialism. There seems to be a very strong anti-capitalist sentiment among millennials. Point being, Andrews message & the services he provides will only increase in relevancy & value going forward.
That 70% tax rate she's advocating is for income above $10 million annually. Thus, it's a tax that will hit the super rich, not the average citizen.
USA already has a large and corrupt system. It’s weird how people point at the US as some bastion of how bad capitalism is when it’s far from capitalist…
90 days in the UK to be tax resident. Anymore than 90 days and you’ve got to pay tax
Not strictly true. It is 183 days but below that there are a number of other criteria. One of the other tests is "were you resident for more than 90 days in any of the three preceding tax years?" if yes the days limit is lower. There is a sliding scale of days allowed depending on how many of the statutory criteria criteria you meet but under 16 days you are automatically non resident regardless. The UK does at least now have a Statutory Residence Test (SRT) which is clear and objective. Google, UK SRT to find a better explanation.
AN Other not true! Check the law! 90 days in a year and you’re tax resident
Passport + Bitcoin
Roubini, a modern financial Nostradamus, predicts a new financial crisis next year. This is the guy whose predictions from the past were accurate, including the big crisis of 2008/2009. According to predictions, stocks will again be decimated but this time they will remain at around 50% of the current levels for decades i.e. no recovery will be possible for quite a while. After more than 10 years of stagnancy, Canadian mining stocks started to shoot up. If these predictions are true, what is the best strategy for the nomad capitalist right now?
tax system is doomed, soon we all are gonna abandon cash and bank accounts for the 3 ultimate types of currency: RUclips likes, subscriptions and comments